Bumble’s Financial Performance
Bumble reported a net loss of $114.1 million for 2022. Nevertheless, Bumble only reported a loss of $2.3 million in Q1 2023, stating that the company might become profitable in 2023. Bumble estimates 16% to 19% total revenue growth for 2023.
Bumble’s Business Model
Bumble reported having over 50 million users. Bumble operates on a freemium model, offering a free basic version and paid subscriptions for additional features like Bumble Boost and Bumble Premium. A large part of its revenue comes from these in-app purchases and subscriptions.
Bumble’s Growth and Vision
Bumble is a technology company focusing on social networking and online dating. Launched in 2014 as a women-centric dating app by Whitney Wolfe Herd, Bumble aims at building an empowering and inclusive community based on kindness, integrity, equality, confidence, and respect.
Bumble’s User Base and Market Position
Bumble has 14% of the online dating market and is projected to reach a $10 billion valuation by 2025. In 2021 Bumble had 45.1 million active users, of which just over 3% paid for the app. Bumble is estimated to reach 83 million active users by 2030.